Form 4: Snowflake Director Frank Slootman Executes Stock Transactions Under 10b5-1 Plan

Frank Slootman, a director at Snowflake Inc., engaged in multiple stock transactions, including tax-related disposals and a sale under a pre-arranged 10b5-1 trading plan.

Summary

• Frank Slootman, a director at Snowflake Inc., has reported several transactions involving Class A Common Stock.
• On December 16, 2024, 1,727 shares were disposed of at $167.67 per share to cover tax obligations related to vesting restricted stock units.
• An additional 1,070 shares were disposed of on the same day at the same price for similar tax purposes.
• On December 17, 2024, 6,714 shares were sold at $171 per share under a 10b5-1 trading plan adopted on March 25, 2024.
• Following these transactions, Mr. Slootman directly owns 196,454 shares and indirectly owns a total of 866,596 shares through various trusts and a foundation.
• The indirect holdings include shares held by the Slootman Family Foundation, the Slootman Living Trust, the Slootman Grandchildren's Trust, and several Grantor Retained Annuity Trusts.

Sentiment

Score: 5

Explanation: The document is a routine disclosure of insider transactions, which is neither positive nor negative for the company's outlook. It reflects standard practices for corporate insiders.

Industry Context

This filing is a routine disclosure of insider transactions, which is common for publicly traded companies. The use of a 10b5-1 trading plan is a standard practice for corporate insiders to avoid accusations of trading on non-public information.

Comparison to Industry Standards

• The use of 10b5-1 trading plans is a common practice among executives and directors at publicly traded companies, including technology firms like Snowflake.
• Similar filings are regularly made by insiders at companies like Amazon, Microsoft, and Google, reflecting routine stock transactions for tax purposes or pre-planned sales.
• The reported prices of $167.67 and $171 per share are within the typical trading range for Snowflake stock, indicating no unusual price movements related to these transactions.

Stakeholder Impact

• The transactions are unlikely to have a significant impact on shareholders, as they are routine and pre-planned.
• The transactions do not directly affect employees, customers, or suppliers.

Key Dates

Keywords

Snowflake, Frank Slootman, stock transactions, Form 4, 10b5-1 trading plan, insider trading, Class A Common Stock, tax withholding, restricted stock units, trusts, foundation